The Russian government has approved a list of car models for interest rates subsidies, according to business daily Kommersant.
 
The list includes all models produced by Russia’s largest carmaker AvtoVAZ, including Chevrolet Niva, and also includes foreign-branded cars assembled in Russia, such as the Ford Focus.
 
The government issued a ruling in early February to subsidise interest rates on loans that finance purchases of domestically made cars worth up to 350,000 rubles. The subsidies were expected to cover two-thirds of the Central Bank of Russia’s (CBR) refinancing rate, which currently set at 13%.

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The price of foreign-branded cars included in the list exceeds the threshold, but government officials said that the threshold would be raised, the daily reported.

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